Many households supplement their food budget by cultivating small vegetable gardens. Explain how each of the following might influence this kind of household production: Both husband and wife are professionals who earn high salaries. The household is located in a city rather than in a rural area. The household is located in a region where there is a high sales tax on food and The household is located in a region that has a high property tax rate.

Many households supplement their food budget by cultivating small vegetable gardens. Explain how each of the following might influence this kind of household production: Both husband and wife are professionals who earn high salaries. The household is located in a city rather than in a rural area. The household is located in a region where there is a high sales tax on food and The household is located in a region that has a high property tax rate.

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter3: Economic Decision Makers

Section: Chapter Questions

Problem 15PAE

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Determine whether each of the following would increase or decrease the opportunity costs for mothers who decide not to work outside the home. Explain your answers. Higher levels of education for women Higher unemployment rates for women Higher average pay levels for women Lower demand for labor in industries that traditionally employ women Many households supplement their food budget by cultivating small vegetable gardens. Explain how each of the following might influence this kind of household production: Both husband and wife are professionals who earn high salaries. The household is located in a city rather than in a rural area. The household is located in a region where there is a high sales tax on food. The household is located in a region that has a high property tax rate.
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David and Morgan are farmers. Each one owns an 18-acre plot of land. The following table shows the amount of zucchini and watermelon each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing zucchini or watermelon or to produce zucchini on some of the land and watermelon on the rest.
Identify the point or points for which the following is true: Production of pizza can be increased without sacrificing beer.
Good X is produced in a competitive market using input A. Explain what would happen to the supply of good X in each of the following situations:a. The price of input A decreases. It will not change. It will increase. It will decrease. b. An excise tax of $3 is imposed on good X. It will not change. It will increase. It will decrease. c. An ad valorem tax of 7 percent is imposed on good X. It will increase. It will not change. It will decrease. d. A technological change reduces the cost of producing additional units of good X. It will increase. It will decrease. It will not change.
Good X is produced in a competitive market using input A. Explain what would happen to the supply of good X in each of the following situations:a. The price of input A increases. It will increase. It will not change. It will decrease. b. An excise tax of $4 is imposed on good X. It will not change. It will decrease. It will increase. c. An ad valorem tax of 5 percent is imposed on good X. It will decrease. It will not change. It will increase. d. A technological change reduces the cost of producing additional units of good X. It will increase. It will decrease. It will not change.
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Good X is produced in a competitive market using input A. Explain what would happen to the supply of good X in each of the following situations: a. The price of input A decreases. b. An excise tax of $3 is imposed on good X. c. An ad valorem tax of 7 percent is imposed on good X. d. A technological change reduces the cost of producing additional units of good X.
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